A Fiduciary Duty for Broker-Dealers?

ALI-ABA Webcast

16 Nov 2010 12:30 p.m. - 02:00 p.m. EST

Christie Adams
(212) 336-4024

The SEC is studying the existing standards of care for broker-dealers offering personalized investment advice to retail investors. Comments have been flowing into the SEC identifying a number of the issues that would be raised by the imposition of a fiduciary duty standard on broker-dealers. By early 2011, the SEC will have completed its study and may have proposed new rules for broker-dealers.

Topics Will Include:

  • Duties currently owed by broker-dealers to their customers;
  • Standards applicable to investment advisers;
  • Common law fiduciary duty principles;
  • Practical issues raised by the imposition of a fiduciary duty on broker-dealers, including those related to trading on a principal basis, offering proprietary products, obtaining required consents, etc;
  • How the imposition of a fiduciary duty may affect certain markets, including IPOs; and
  • Action items for compliance personnel.


  • Hillel T. Cohn
    Morrison & Foerster LLP
  • Anna T. Pinedo
    Morrison & Foerster LLP

ALI-ABA's cost for this program is $199.

ALI-ABA will provide CLE credit.




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